Gary Parsons: Yeah. No, I’m sorry, Ganesh, I’ll definitely take that. I have my cellphone used up, unfortunately — and if you remember back, the last one of these nationwide broadband plan was done, gosh, 2009, 2010 type time frame. And that laid out a lot of the spectrum activities that did occurred throughout the administration and at the FCC through multiple administrations. Once again, it’s fortunately a very bipartisan effort. It always has been. So now, the growth of the need for broadband has just dramatically escalated. So you have a situation now where you’ve definitely got to find more broadband capability. Everybody knew that they would eventually get around to doing it. So it wasn’t like it was unexpected, but it was pleasant to finally see that they are out formally going through a process to try to identify significant amount of repurposed spectrum because let’s be candid.
There isn’t just a lot of spectrum sitting around unused. You have to shift it from other uses. And the one real value that we expect to come out of this thing is, is quite candidly, our spectrum and what we have already proven through the use over the last 10 years is, we’re able to provide these positive governmental services, other things of that nature without interfering with government users or adjacent spectrum assets. So we’re kind of the poster child of how you should be able to do it. And we believe now that as you’re going about — what will probably be a multiyear effort for them to identify a lot of spectrum. What you want to do is, you want to grab the low-hanging fruit first. So if ours is a capability that has proven it doesn’t interfere, can use shared spectrum, and also provide broadband capabilities, which we believe will be able to show conclusively through our testing that is an easy low-hanging fruit to pick off for the government.
So it’s more of the fact that whether or not they were going about a very large program to identify additional spectrum for broadband repurposing. Even if that hadn’t occurred, we knew that what we were doing would likely receive a positive view at the FCC because it is providing all of these PNT services and it also can carry broadband, which is desperately needed. So from that standpoint, it just leverages or greater continuity with what the government wanted to do going forward.
Timothy Horan: And Gary, just two other points on that. Can you talk a little bit about maybe what you think the highest and best uses for the spectrum? And then secondly, is just your — do you think that’s where the most value can be created now? I know there’s a lot of moving parts in the business model is — well, it sounds like you can both monetize the spectrum and the services at the same time. But what do you think the highest and best use would be for?
Gary Parsons: I think that clearly, from a — if you just look at it from an economic standpoint, having 8 megahertz of low-band spectrum available for broadband carriage is massively valuable. I mean anybody that does any spectrum valuation understands that. The positive value that we see of going about it, the way we’re intending to go about it, once again subject to the integration of the technologies working as we expect them to work and subject to the testing proving that we can do it. You don’t lose all of that resilient PNT government contracts, E911, Public Safety, protecting critical infrastructure, all of those terms (ph) and market bases that exist, you’re still capturing, but you’re also able to capture the basic broadband capability of 8 megahertz low-band 5G signal.
Timothy Horan: Great. And do you think it’s the primary way to create shareholder value at this point?
